Trickle gets £1 million stream of investment
Scottish tech platform Trickle, which specialises in improving workplace productivity, has secured a £1 million capital injection from investors in Scotland and London.
The company, whose customers include NHS Scotland, NHS England, CGI, and Johnston Carmichael, will use the new money to expand its team, increase its presence in the private sector and add features to its operations.
The funding round included Equity Gap, London venture capital firm NoBa Capital and Scottish Enterprise.
CEO Paul Reid, who set up the company in 2019, said: “We look forward to continuing our growth plans with the support of our investors, and we’re seeing significant opportunities to work with more companies in the private sector.
“Overall, organisations realise there are innovative ways to establish and sustain a culture of trust and positivity, and that this will pay dividends in terms of efficiency, retention, ground-up innovation, and the bottom line.”
Gallup’s 2023 State of Global Workplace report indicates that the UK has one of the least engaged workforces in Europe, ranking 33 out of 38 among peer countries.
Trickle’s platform works by empowering team members to share ‘honest, timely, anonymous feedback’, which is translated into actionable activity and measurable outcomes, fostering an organisation’s ‘culture of engagement, and boosting overall productivity’.
Fraser Lusty, managing director at Equity Gap, said: “Paul and the Trickle team have made considerable commercial progress, with their technology increasingly adopted across the public and private sectors helping to solve challenges that every organisation faces, and we’re excited to support the business during its next phase of growth.”
Recent appointments at the company include Mark Mountford joining as CFO, Rebecca Christensen’s hire as CMO, and Victoria Mackie’s promotion to customer wellbeing Lead. Last year, Amanda Kerley joined Trickle’s leadership team as COO, having previously headed the company’s customer wellbeing unit.
Ms Kerley said: “Three of our big themes include promoting transparency, enhancing psychological safety, and addressing whistleblowing, and we’ve built the option for a robust anonymity feature into the product along these lines.
“Essentially, we’re matching what our customers say they want most from Trickle, because they have seen how transformational these areas can be on productivity levels and staff retention.”
In 2022, Trickle announced a partnership with IT and business consulting group CGI, with CGI now offering Trickle’s employee engagement platform to its own customer base.
Trickle plans to further extend its reach through similar partnerships with industry players across the UK, helping organisations optimise employee experience in a challenging hiring and retention market.
Mr Reid’s previous startup, geospatial solutions specialist Sigma Seven, was acquired by Capita in 2015.